Streamlined rulebook to save asset managers £128m a year
The FCA has proposed a package of reforms that would tailor requirements proportionately for asset managers, cut costs for firms and give better data to supervise the sector more effectively.
Economy
New Zealand Dollar holds gains near 0.5800, unfazed by risk aversion
The New Zealand Dollar (NZD) appreciates against the US Dollar (USD) on Tuesday, hardly affected by the risk-averse scenario. Investors’ bets on further rate hikes by the Reserve Bank of New Zealand (RBNZ) and bright da…
New Zealand Dollar hits fresh three-month highs as central banks divergence hurts the Aussie
The New Zealand Dollar (NZD) extended gains against the Aussie Dollar (AUD) on Tuesday. The AUD/NZD pair has plunged more than 2% over the last five trading days, reaching three-and-a-half-month lows at 1.1955, weighed …
Copper: Physical demand supports prices – ING
ING’s Warren Patterson and Ewa Manthey highlight supportive fundamentals for Copper, with tightening LME warehouse dynamics and strong physical demand. They note a sharp jump in cancelled warrants, particularly in Asia,…
Euro declines against Canadian Dollar as oil prices rise
EUR/CAD extends its losing streak for the third consecutive day, trading around 1.6070 during the European hours on Tuesday. The currency cross depreciates as the commodity-linked Canadian Dollar (CAD) gains ground on h…
Brent: Refined products risk contrasts resilient crude – Rabobank
Rabobank strategists Joe DeLaura and Florence Schmit keep their Brent Oil forecasts broadly unchanged, projecting $80/bbl in Q3 2026 and $78/bbl in Q4 2026. They argue crude markets remain relatively resilient despite r…
BoE’s Bailey: Resumption of hostilities in Gulf underlines instability going forward
Bank of England (BoE) Governor Andrew Bailey said on Tuesday that the “resumption of hostilities in the Gulf underlines instability going forward.”
California leads lawsuit to block Paramount Warner Bros mega merger
A dozen US states have joined together to block the $110bn (£85bn) merger between Warner Bros and Paramount, claiming the largest media consolidation in Hollywood history would stifle competition and raise consumer pri…
‘If we die, we die together’: wife of Ryanair passenger almost sucked through window speaks
A woman who saved her husband from being completely sucked out of a Ryanair plane mid-flight has said she thought as he held on to his legs: “If we die, we die together.”
Wells Fargo profit jumps on interest income boost, trading windfall
Big US banks raked in nearly $50bn (£37bn) worth of profits in the first three months of the year, as they benefited from stock market turbulence triggered by the US-Israeli war on Iran.
US Dollar: Residual strength as safe-haven returns – TD Securities
TD Securities strategists expect the US Dollar to retain some residual strength in Q3 as positioning normalizes and traditional safe-haven demand returns. They expect June US CPI to show subdued underlying inflation, wi…
South East Water to pay £30.5m penalty after multiple supply failures
South East Water will pay £30.5m after a series of supply interruptions, customer failings and for breaching its licence, the regulator Ofwat has said.
EUR/USD Price Forecast: Brace for a further sell-off toward 1.1200
The Euro (EUR) is up 0.12% to near 1.1395 against the US Dollar (USD) during the early European trading session on Tuesday. The major currency pair rises as the US Dollar corrects ahead of the United States (US) Consume…
Turkish Lira: Structural external gaps keep TRY under pressure – Commerzbank
Commerzbank’s Tatha Ghose highlights that Turkey’s current-account deficit widened in May and remains structurally driven by savings-investment imbalances. Portfolio inflows are muted, with May showing renewed outflows …
Indian Rupee: Oil rebound clouds INR gains against US Dollar – DBS
DBS Group Research economist Radhika Rao notes India’s onshore markets are closely watching global geopolitical risks as Oil prices rebound. The report highlights USD/INR moving to the high-95 area before facing interve…
China’s monthly car exports top 1m for first time as overall trade soars
China’s monthly car exports topped 1m for the first time in June as overall overseas shipments from the world’s second biggest economy rose 27%.
Indian Rupee drifts sharply lower as US claims right of Hormuz toll fee
The Indian Rupee trades significantly lower against the US Dollar (USD) on Tuesday. The USD/INR pair posts a fresh seven-week high near 96.13 as surging oil prices and United States (US) Treasury Yields due to threats o…
How US commerce secretary's Epstein links were uncovered by British whistleblower
A British man has told the BBC how he unearthed evidence indicating that his former employer, Howard Lutnick - now US commerce secretary - failed to disclose a business relationship with the paedophile financier, Jeffre…
North Sea oil industry urges Burnham to approve new drilling in UK waters
The UK’s North Sea oil industry has made a last-ditch attempt to curry favour with the Labour government by appealing to Andy Burnham’s reindustrialisation agenda just days before he is expected to become Britain’s next…
Euro: Downside bias but key support holds against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report that EUR/USD slid to 1.1377 and closed at 1.1381, a two‑week low, as the Dollar strengthened ahead of United States (US) Consumer Price Index (CPI). Whi…
US CENTCOM says US forces complete new strikes on Iranian military targets
The United States Central Command (CENTCOM) said on Tuesday that US forces complete new strikes on Iranian military targets, adding that more than 50,000 US service members are currently deployed across the Middle East,…
British Pound strengthens above 1.3350 ahead of US CPI data
The GBP/USD pair trades in positive territory around 1.3360 during the Asian trading hours on Tuesday. However, the potential upside for the major pair might be limited amid fears of an escalating US-Iran conflict. The …
Indonesian Rupiah gains as S&P’s stable ‘BBB’ rating boosts investor confidence
USD/IDR depreciates after registering gains in the previous day, trading around 18,140 during the Asian hours on Tuesday. The Indonesian Rupiah (IDR) stabilizes against the US Dollar (USD), buoyed by a rally in domestic…
UK’s alcohol-free beer boom threatened by regulations, trade body warns
BBPA wants content definition for beer to be considered alcohol free to be changed from 0.05% to 0.5%